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Assa Abloy Q3 sales up

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Christian Fernsby ▼ | October 18, 2019
Assa Abloy
Assa Abloy   Organic growth was strong in Americas

Assa Abloy Q3 sales growth in the quarter was driven by organic growth of 4%, acquired net growth of 4% and positive currency movements of 5%.

Topics: Assa Abloy

Organic growth was strong in Americas and Global Technologies.

Entrance Systems and EMEA reported good growth (3%), while sales in Asia Pacific declined (-1%).

Operating income increased by 14% to SEK 3,894 M, driven by good operating leverage.

The operating margin was unchanged at 16.2%, but if adjusted for acquisition costs of SEK 55 M related to agta record, the margin increased by 20 basis points.

The underlying improvement was driven by lower raw material costs, prices increases and operational improvements.

Operating cash flow was very strong and improved by 47% to SEK 4,401 M, driven by the improved earnings and working capital reductions.

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